Credit unions were started in Germany, about 1849, by Frederick Raiffeisen, the mayor of a small town. He devised a credit society to help his townspeople help themselves. Until then, they had relied on the handouts or charity of the land barons who owned the lands that the families lived and worked on. Frederick Raiffeisen reasoned that people could save money together and make loans to each other at low…

The Equitable-PCIB Employees Credit Cooperative or EPCIBECC informally started way back in 1969 when twelve(12) employees of the First Insular Bank of CEBU (FIBC) agreed to voluntarily form a group and contribute an amount out of their salaries to a sinking fund. As the need arises, the members of this group would then borrow an amount from the sinking fund to be paid in semi-monthly installments with interest.

Qualifications: Open to all regular or resigned or retired employees of BDO UNIBANK INC. Retired/ Resigned members may opt to continue membership provided they are in good standing before retirement or resignation.